By Adriano Marchese


CGI on Wednesday reported better-than-expected earnings and revenue in the first quarter.

For the three months ended Dec. 31, the Canadian information technology consulting and software company reported a rise in net earnings to 389.8 million Canadian dollars ($290.9 million), or C$1.67 a share, up from C$382.4 million, or C$1.60 a share in the prior-year period.

On an adjusted basis, which excludes one-off and other exceptional items, rose to C$1.83. According to analysts on FactSet, this was expected to rise to C$1.82.

Revenue rose 4.4% to C$3.6 billion, just over analyst expectations of a rise to C$3.58 billion. CGI noted that, excluding foreign currency variations, revenue grew by 1.5% year-over-year.

Bookings were C$4.19 billion, up C$152 million on a year-over-year basis, which the company said represents a book-to-bill ratio of 116.2%.

Chief Executive George Schindler credits the performance to its outcome-based offerings, particularly those focused on generating cost-savings and accelerating modernization, including through AI.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

01-31-24 0708ET